The freight market is suffering from very challenging conditions and few dispute that the freight market is in recession.
The root cause of the current freight recession has been the imbalance of supply and demand.
Let’s break down demand first:
According to SONAR’s Outbound Tender Volume Index, or OTVI, freight volumes are currently up 16% over 2019 levels. Volumes are at some of the highest levels of the year to date.
https://www.freightwaves.com/news/two-charts-explain-why-were-in-a-freight-recession